More than 200,000 financially strapped households will have a chance to sharply reduce their mortgage balances under a side deal negotiated by Bank of America that could allow the bank to avoid as much as $850 million in penalties.

Suddenly, it seems like almost everyone is offering a mobile wallet. Major issuers, telco consortiums, search engines and other third-party intermediaries are clamoring for attention.

Three years ago, the Seattle bank was struggling mightily with bad loans and diminishing capital. A recently completed IPO put $96 million back into the bank, putting it on the path to recovery.

Citigroup Inc. has nominated a healthcare industry veteran and a former American Express Co. executive to be independent directors on its board.

The U.S. is already lagging other countries in its conversion to a secure chip-card format. And if Canada is any example, the U.S. may continue to lag despite the aggressive deadlines set by the card networks.

It’s "insane" that some lenders still use carbon paper, Andrew WeissMalik of On The Go Technology says.

A year and a half after completing its recapitalization, Sterling Financial Corp. in Spokane, Wash., has been released from an enforcement order with the Federal Reserve Board.

MasterCard Inc. has appointed Steve Grigg president of its Access Prepaid Worldwide unit.

FDIC objected to private equity deal involving Prosperity Bank Co. in St. Augustine, Fla., sources said. It had served as a model for a good bank/bad bank deal involving BankAtlantic that a judge recently blocked.

Two California banks have repaid funds they received from the Treasury Department under the Troubled Asset Relief Program.

The Federal Reserve Board on Thursday released details on steps three more mortgage servicers are taking to correct deficiencies in their foreclosure practices.

Discover Financial Services has signed a deal with the National Payments Corporation of India, in the credit card company's latest effort to increase card acceptance abroad by teaming up with local networks.

With at least one success, defendants are attempting to use state "business-judgment" rules to their advantage.

The first thing Michael Blodnick — the head of Glacier Bancorp Inc. in Kalispell, Mont. — looks at when considering buying another bank?

More Wells Fargo & Co. customers will be charged a monthly fee on checking accounts as the San Francisco company expands a pilot program aimed at generating more revenue from retail banking.

Joseph Stilwell is trying to gain seats on the mutual holding company's board with the solitary goal of getting the management team to sell.

The $25 billion mortgage servicing settlement is "a symbol, a chance to get everyone to agree to solve this," the CEO tells investors.

Wells Fargo & Co., the most valuable U.S. lender, may close or consolidate outlets as it examines ways to trim costs, according to its chief financial officer.

First Citizens BancShares Inc. in Raleigh, N.C., reported only modest earnings growth in 2011 as income gains from failed-bank acquisitions were largely offset by higher loss provisions related to loans it inherited in those deals.

The idea of banks peddling "exploding toasters" has taken root thanks to industry nemesis Elizabeth Warren.